By Mauro Orru 
 

Stellantis NV on Thursday unveiled its strategy on electric vehicles with plans to invest more than 30 billion euros ($35.37 billion) through 2025 in electrification and software development.

The auto maker, created through the merger of Fiat Chrysler Automobiles NV and Peugeot SA early this year, said the sum includes equity investments in joint ventures, hoping to bolster its standing in commercial vehicles in Europe and strengthening its position in North America.

"The strategy we laid out today focuses the right amount of investment on the right technology to reach the market at the right time, ensuring that Stellantis powers the freedom of movement in the most efficient, affordable and sustainable way," Stellantis Chief Executive Carlos Tavares said.

The company said it is targeting more than 70% percent of sales in Europe and more than 40% in the U.S. to be low emission vehicles by 2030.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

July 08, 2021 09:27 ET (13:27 GMT)

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